37558 Lighthouse Rd - Hospitality FOR SALE


Fenwick Island, DE 19944
$8,500,000 USD
302-542-9783
37558 Lighthouse Rd, Fenwick Island, DE for Sale
$8,500,000 USD
Hospitality - FOR SALE
1/25
null | Request Cap Rate

37558 Lighthouse Rd
Fenwick Island, DE 19944


HIGHLIGHTS

  • 750' From Beachfront, last parcel in Delaware before Maryland State Line on Coastal Hwy One
  • Redevelopment could include ground level parking under 4 story structure, with a roof top resturant / bar
  • Not in town limits of Fenwick Island, only Sussex County
  • Interested? Contact Charlie Arnold directly at mobile phone number!

OVERVIEW

This sale includes the Business of the Atlantic Coast Inn, and the real estate property. 750' From Beachfront, Last parcel in Delaware before Maryland State Line on Coastal Hwy One. Currently 55 Rooms, 1.46 Acres C1 - Zoning ByRight - Parcel Specific (No Public Hearing Required) 51' Height Limit: Permitted to include ground-floor parking structure; rooftop mechanicals are not included in the limit, meaning they can be above the limit. This vintage motel offers substantial potential for growth and redevelopment. Located just outside the town limits of Fenwick Island, DE, The property bypasses town restrictions and benefits from a more flexible county permitting process and easier parking variance approvals. Its prime location near beaches and attractions makes it an ideal opportunity for investors or developers to build a larger hotel, retail space, or residential housing. While currently only operating from May–September by the owners’ choice, the parcel has untapped market demand for year-round operation. This presents a unique opportunity for interested investors to own a prime coastal location with unlimited redevelopment possibilities!

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$243 USD /SF

# OF ROOMS

55

PRICE/ROOM

$154,545 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Atlantic Coast Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1957

PARKING SPACES

78

LAND DETAILS

LAND ACRES

1.46 AC

LAND SF

63,598 SF

ZONING

C1

APN/PARCEL ID

134-23.20-80.00

ASK ABOUT THIS PROPERTY

Charlie ArnoldWeichert Realtors® - Beach BoundMore Info
302-542-9783

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Charlie ArnoldWeichert Realtors® - Beach BoundMore Info
302-542-9783

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.